Crescent point energy Stock Forecast
Crescent point energy stock downgraded to Hold/Accumulate
(Updated on Apr 30, 2024)
The Crescent point energy stock price fell by -4.55% on the last day (Tuesday, 30th Apr 2024) from $9.23 to $8.81. During the last trading day the stock fluctuated 4.26% from a day low at $8.81 to a day high of $9.19. The price has been going up and down for this period, and there has been a 3.16% gain for the last 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 8 million shares were bought and sold for approximately $72.58 million.
Given the current short-term trend, the stock is expected to rise 47.73% during the next 3 months and, with a 90% probability hold a price between $13.01 and $13.71 at the end of this 3-month period.
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CPG Signals & Forecast
The Crescent point energy stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8.93. On a fall, the stock will find some support from the long-term average at approximately $8.42. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Crescent point energy stock
Crescent point energy finds support from accumulated volume at $8.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.375 (4.26%) between high and low. For the last week, the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: $8.40 (-4.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CPG) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Crescent Point Energy Corporation to open at $8.94, and during the day (based on 14 day Average True Range), to move between $8.57 and $9.05, which gives a possible trading interval of +/-$0.241 (+/-2.74%) up or down from last closing price. If Crescent Point Energy Corporation takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.80 (0.11%) than the resistance at $8.86 (0.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Crescent Point Energy Corporation stock A Buy?
Crescent point energy holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.031 Hold/Accumulate Downgraded
Predicted Opening Price for Crescent Point Energy Corporation of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$8.94 ( 1.42%) | $8.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.31 | 5.68 % | |
R2 | 9.17 | 4.05 % | ||
R1 | 9.08 | 3.04 % | ||
Current price: | 8.81 | |||
Support | S1 | 8.79 | -0.207 % | |
S2 | 8.70 | -1.21 % | ||
S3 | 8.56 | -2.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.23 | 4.77 % | |
R2 | 8.87 | 0.681 % | ||
R1 | 8.86 | 0.568 % | ||
Current price | 8.81 | |||
Support | S1 | 8.80 | -0.114% | |
S2 | 8.51 | -3.41% | ||
S3 | 7.51 | -14.76% |
CPG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 29, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0860 | 1.05% |
2 | Nov 02, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.0700 | 1.01% |
3 | Nov 14, 2023 | Nov 14, 2023 | Nov 14, 2023 | $0 | 0% |
4 | Jul 26, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.0740 | 0.94% |
5 | Aug 04, 2023 | Aug 04, 2023 | Oct 02, 2023 | $0.0260 | 0.330% |
FAQ
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